Q3 of 5 Page 66

Write the following questions in one line:

(1) To which economic factor is the management of individual or family finances related?


(2) From which Greek word is the term ‘Economics’ derived?


(3) In capitalistic economy, to whom does the ownership and management of means of production belong?


(4) What do you mean by globalisation?

(1) Management of individual or family finances is related to income and expenditure.


(2) The word economics come from the Greek word oikonomia.


(3) In capitalistic economy, the ownership and management of means of production belongs to private individuals.


(4) Globalisation means aligning the country’s economy with the world economy.


More from this chapter

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1

Explain the types of economies by filling correct information in the place of questions in the circle.

 2

Give an explanation:

(1) Economy begins at home.


(2) India’s economy is of mixed type.


(3) On the basis of economies, we can divide countries into three groupes.

 1

Obtain information about the contribution of any Indian economist in Economics and present in the class.

 2

Consider the income and expenditure of your family and make an account sheet for it.